Echelon

MGM Mirage executives told analysts that both it and its JVpartner in the project, Dubai World--a conglomerate that owns thecompany developing the manmade islands off the coast of Dubai--eachput up another $300 million in the second quarter to keep theproject on track. MGM Mirage CFO Dan D-Arrigo said CityCenter hasreceived to date well over half of the financing commitments frombanks and it expects the rest of the financing to be finalized thisquarter.

The partnership is working with several relationship lendersregarding a $3 billion financing package and to date CityCenter hasreceived commitments totaling $1.65 billion from the lead banks:Bank of America, Royal Bank of Scotland, UBS, BNP Paribas, andSumitomo Mitsui. Beyond that, MGM Mirage says CityCenter hasreceived additional, smaller commitments from Deutsche Bank, MorganStanley, and the Bank of Nova Scotia.